April 17 Privet Fund Management:
* Privet fund offers US$11.00 per share to acquire Norsat
* Privet fund management - continues to maintain ownership
and control of 1,027,170 shares of Norsat, representing about
17.6% of outstanding shares
* Privet fund management - sent to board of Norsat
international letter indicating interest in acquiring 100% of
common shares of Norsat not already owned
* Privet fund management - requested Norsat for access to
updated financial and legal diligence information so that it
can deliver "superior proposal"
* Privet fund management says it expressed "disappointment"
in result of Norsat's negotiations with hytera
* Privet fund management says "does not view financial terms
of proposed Hytera arrangement to be in best interests of Norsat
shareholders at this time"
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